G-7 ministers discuss Greek situation

By Gabriele Steinhauser

Associated Press

Published: Sunday, June 19 2011 6:07 p.m. MDT

LUXEMBOURG — A European official says that finance ministers from the Group of Seven rich countries were discussing Greece's debt crisis on a conference call early Monday.

The official said that the call was designed to update the finance ministers of United States, Canada, Japan and the U.K. on discussions taking place in parallel among the eurozone's top financial officials.

The official said the ministers — who were joined in Luxembourg by the heads of the IMF and the European Central Bank — were also working on a statement on Greece. He was speaking on condition of anonymity because discussions were still ongoing.

The two-day meeting is key to signing off on a vital loan installment for debt-stricken Greece and discussing the terms of a second bailout for the country.

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